Established in January 1999‚ Pine Street Capital (PSC) was a market-neutral hedge fund that specialized in the technology field‚ facing market risk and trying to decide whether and which way to use in order to hedge equity market risk. They choose technology sector because the partners of PSC felt that they have enough ability to evaluate this sector and specially be good at picking out-performing stock. Short-selling of NASDAQ and options hedging strategy are the two major hedging choices for PSC
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Pine Street Capital Discussion and Analysis 1 PINE STREET CAPITAL – WHAT RISK TO HEDGE & WHAT TO BEAR? Hedge: market related risks 1. Currently managing a market neutral fund ($32 AUM) In the past the market risk was hedged by shorting or short-selling representative shares of the market index In the past the market riskunder was The alternative hedged by shorting hedging the consideration was or shortselling representativehelp of put market risk with the shares of the market the market
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Background Pine Street Capital is a market-neutral hedge fund in the technology field and is facing market risk and has to decide which way to use in order to hedge the risk. It can either use short selling of NASDAQ or options hedging strategy. Each strategy has its own advantage in different economic conditions. As the fund has just gone through a volatile period in NASDAQ’s history‚ PSC has to choose between two choices. Choice 1: Continuing to hedge market risk by short selling Choice 2:
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cities‚ casinos bring in money‚ but most tribes struggle to bring in money. “According to True Sioux Hope Foundation‚ Pine Ridge has a 90 percent unemployment rate and a 70 percent high school dropout rate” (Elder). Pine Ridge is one of the poorest reservations in America with a low life expectancy rate. Suicide has also become a major problem. The White House is working with Pine Ridge to create a better environment and help with jobs (Elders). Population by the 1900’s of the Indians was 250‚000
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Heldt Mr. Bender English 10000 8 May 2012 The Sea After reading The Old Man and the Sea‚ written by Ernest Hemingway‚ I found the most interesting part of the book to be the sea itself. One can almost consider the sea another character‚ due to the vital role it plays in the short novella. The sea provides a glimpse at Santiago’s knowledge and experience that he has acquired throughout the course of his life. As well as the sea is used as a metaphor to the literary community‚ if one
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As the fog lifts and the sun begins to rise over Torrey Pines golf course cliffside‚ I can’t stop myself from staring into the vast Pacific Ocean that forms the perfect early morning backdrop. The salty ocean breeze briskly flashes across my face as I approach my shot from the tee box of the third hole. A dramatically set two-hundred-yard downhill par three‚ encased by ocean cliffs‚ safeguarded by a colony of trees to the right and an enormous sand trap that spans the entire front of the green
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Autobiography: The Sea My family took a vacation the summer before sixth grade. We were in Maui‚ Hawaii to be exact‚ it was paradise. We walked to the beach from my family’s cabin everyday. As I looked around‚ the white sand felt scalding and the water was warm. The shore was filled with coral rocks‚ crashing waves and laughing children playing with the warm‚ wet sand. The water rose and fell‚ each time dissolving a sand castle into mud and making a child scream and run playfully from the water
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Florida is Australian pine. Australian pine trees threaten beach plant communities as they quickly invade beaches. They have also invaded Everglades. These trees produce a dense leaf litter beneath them thereby outcompeting native vegetation. They have shallow root systems and hence tend to uproot and topple during high winds and pose a significant hazard to coastal storm evacuation routes. Australian pine forests provide little or no native wildlife habitat. Australian Pines’ success is so bad for
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J.Reeves has successfully used the dog metaphor to elicit the behaviors of the sea at many occasions. The poet compares the different behaviors of the dog at different moods with the sea. The first stanza shows the begining of the violence due to the hungry nature of the dog which metaphoricaly depicts the sea waves turning out to be heavy and rough. The second stanza shows the waves quickening and becoming more rough due to the enviromental change‚ thereby the dog is so hungry and angry that it
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Did you know that Pine Beetles have destroyed over 80% of Colorado’s pine tree forests? If you think that is amazing wait until you hear that they have also gone through sixty percent of the interior pine forest in British Columbia and millions of pine trees have been killed by the infestation. You might be wondering what exactly is a Pine Beetle. Well‚ a Pine Beetle is a tiny five millimeter long bug that goes through and kills lots of pine trees. They are a problem because they are killing the
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